BlockBeats News, March 3 — According to Bloomberg, Bitcoin has long been promoted as a gauge that reflects global risk appetite in real-time 24/7, something other markets cannot provide. However, after news of the U.S. strikes on Iran emerged, Bitcoin initially fell, then fluctuated, and ultimately rose. By Monday, its trading price was above pre-attack levels, showing little sign of sustained panic or safe-haven behavior.
This trend reflects deeper issues. After dropping about 50% from its all-time high, Bitcoin has been consolidating in a narrow range between approximately $60,000 and $70,000. Since the crypto market crash last October, most leverage has been forced out. Retail participation has declined, and capital inflows have weakened. With overall positions lighter, the impact of new shocks has been smaller.
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